Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Independent Solutions Wealth Management LLC

Independent Solutions Wealth Management LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 11.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,908 shares of the social networking company’s stock after buying an additional 928 shares during the period. Meta Platforms makes up approximately 1.2% of Independent Solutions Wealth Management LLC’s portfolio, making the stock its 22nd largest position. Independent Solutions Wealth Management LLC’s holdings in Meta Platforms were worth $5,099,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in META. JDM Financial Group LLC acquired a new position in Meta Platforms in the third quarter valued at about $30,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Meta Platforms in the 3rd quarter worth approximately $36,000. POM Investment Strategies LLC acquired a new stake in Meta Platforms in the 2nd quarter valued at approximately $38,000. Halpern Financial Inc. purchased a new stake in Meta Platforms in the third quarter valued at approximately $46,000. Finally, West Financial Advisors LLC acquired a new position in Meta Platforms during the third quarter worth $49,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on META. Stifel Nicolaus boosted their price target on shares of Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. The Goldman Sachs Group lifted their price target on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. TD Cowen increased their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Scotiabank cut their price target on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 31st. Finally, Bank of America upped their price objective on Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $638.00.

Meta Platforms Stock Up 1.2 %

Shares of NASDAQ META traded up $6.88 on Thursday, hitting $604.07. The company had a trading volume of 7,305,907 shares, compared to its average volume of 14,697,047. The firm has a market capitalization of $1.52 trillion, a P/E ratio of 28.45, a PEG ratio of 1.39 and a beta of 1.20. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 12-month low of $340.01 and a 12-month high of $638.40. The business has a 50 day moving average of $585.42 and a two-hundred day moving average of $540.85.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.33%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Insider Activity

In related news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $560.00, for a total transaction of $231,280.00. Following the completion of the transaction, the chief operating officer now directly owns 12,772 shares in the company, valued at $7,152,320. This represents a 3.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $633.25, for a total transaction of $22,746,973.25. The disclosure for this sale can be found here. In the last three months, insiders sold 287,387 shares of company stock worth $173,791,857. 13.71% of the stock is currently owned by insiders.

Meta Platforms Company Profile

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.